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Author Question: Find the expected value.Suppose you buy 1 ticket for $1 out of a lottery of 1000 tickets where the ... (Read 38 times)

DyllonKazuo

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on: Jan 18, 2020

Question 1

Find the expected value.

Suppose you pay $1.00 to roll a fair die with the understanding that you will get back $3.00 for rolling a 1 or a 2, nothing otherwise. What is your expected value of your gain or loss?
◦ $0.00
◦ -$1.00
◦ $1.00
◦ $3.00

Question 2

Find the expected value.

Suppose you buy 1 ticket for $1 out of a lottery of 1000 tickets where the prize for the one winning ticket is to be $10,000. What is your expected value?
◦ $90.00
◦ $9.00
◦ -$0.90
◦ $0.90
Statistical Reasoning for Everyday Life ¦ Bennett, Briggs, Triola ¦ 5th Edition
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Marked as best answer by DyllonKazuo on Jan 18, 2020

briseldagonzales

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Reply #1 on: Jan 18, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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DyllonKazuo

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Reply 2 on: Jan 18, 2020
YES! Correct, THANKS for helping me on my review

kthug

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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